Food and beverage companies will have “solid earnings
growth” this year and they are very good “defensive” stocks,
analysts led by Hong Ting at Huatai United Securities Co. wrote
in a report dated yesterday.

Bengang Steel Plates Co. (000761 CH) jumped 1.4 percent to
8.65 yuan, its highest close since August 2009. The steelmaker
said it plans to raise up to 3.77 billion yuan ($579 million) by
selling no more than 543 million shares in a private placement.
The company will use part of the proceeds to acquire a 75
percent stake of its parent’s joint venture with Posco. The
stock resumed trading today after being suspended the past
month.

Datang International Power Generation Co. (601991 CH), the
unit of China’s second-biggest electricity producer, dropped 2.6
percent to 7.27 yuan after saying it plans to sell as much as 6
billion yuan of bonds with maturities of as long as 15 years to
help repay debt.

Zhejiang Narada Power Source Co. (300068 CH), a
manufacturer of batteries, slid 2.5 percent to 16.47 yuan, an
eighth day of declines. The company said its units in Hangzhou
have halted production as the local government ordered battery
companies to suspend operation for lead-pollution inspections.

Nationz Technologies Inc. (300077 CH), a maker of
integrated circuits and chips, dropped 5 percent to 29.79 yuan,
its lowest close since listing in April last year. ZTE Corp.
(000063 CH) said it may sell shares of Nationz Technologies at a
“proper” time. ZTE, China’s second-biggest phone-equipment
maker, added 1.8 percent to 26.85 yuan after being suspended
yesterday.